Normal asset accounts have a debit balance, while contra asset accounts are in a credit balance. Offsetting the asset account with its respective contra asset account shows the net balance of that asset. According to the balance sheet equation, all accounts that fall under the Assets category will normally increase with a debit entry. However, …
A regular checking account typically pays little or no interest, although some offer a flat interest rate regardless of your balances. Some traditional accounts don’t charge recurring fees, such as monthly maintenance fees. For example, with Discover® Cashback Debit, you can earn 1% back on up to $3,000 of debit card purchases each month.1 That …
Depending on if the state is origin-based or destination-based, you are required to collect sales tax based on your location or that of the buyer. On the bright side, this is the one aspect of drop shipping that most e-commerce sellers are accustomed to dealing with. Drop shipping rules prohibit a supplier from accepting a …
Dropshipping Taxes Simplified: Filing and Setup Tips Read More »
And while you’re at it, you should look into whether you need a business license to sell online. Not sure where to start or which accounting service fits your needs? Our team is ready to learn about your business and guide you to the right solution. Manage expenses and maximise savings with our expense management …
The use of technology has revolutionized the way auditors collect and document evidence. Digital tools and software, such as CaseWare and AuditBoard, streamline the documentation process, making it easier to organize and retrieve information. These tools also enhance collaboration among audit team members, allowing for real-time updates and communication. Evaluation and Reporting This certification is …
Main purpose of an external audit with definition and examples Read More »
